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20130113
20130121
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of law and having order and creating an environment where people can thrive because there is that order. but also understanding we live in a globe where we should be the leaders and have to interact. that's where our children's future are is being a part of this global economy. that's not something we can easily avoid,host: galas on the. thank you for waiting. caller: right now i see that new york's services for the mentally ill are being sanitized because of the union's and pensions -- are being sabotages because of the unions and pensions. i just want to know why pensions are being blamed for everything. i pay into my own pension. host: ok. do you have a question, or is that your statement? caller: why are pensions being blamed for the budget problems? host: thank you for the call, gail. guest: i do not think pensions are being blamed, it is just a mathematical reality. when you look at budgets, obligations, there is no doubt that there are some areas and some places where we have overextended our obligations. we have promised to much. with the shift in demographics, in the financial
interest level in this environment. you have to wonder if the bank isn't holding on to your loan to maintain that high level of interest. i wonder if the might be worth your while to try to go to another bank and not refinance with the same company. it has become a much more difficult circumstances to get a mortgage because the banks are still recovering from all the bad loans that day made during the real estate mania. host: this idea of the debt to income ratio. that was something richard cordray talked-about. this is from american hero joe. explain this issue for us. guest: this goes to the heart of the ability to repay the loan. we do not want people taking on loans that they cannot afford to repay. 43% is the outside level. if your mortgage debt sure other debt -- car loans, credit cards -- exceed 43% of your growth or pre-tax income, then that is too much. that is a loan that is becoming too onerous and you might have trouble repaying. anything below 43% is acceptable as a qualified mortgage. anything above that starts to get into the territory of you are not having enough
Search Results 0 to 1 of about 2